Rumble (NASDAQ:RUM) Trading Down 9.7% – What’s Next?

Rumble Inc. (NASDAQ:RUM) fell 9.7% during mid-day trading on Monday . The company traded as low as $13.57 and last traded at $13.76. 2,469,440 shares traded hands during trading, a decline of 36% from the average session volume of 3,835,453 shares. The stock had previously closed at $15.23.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated a “neutral” rating and issued a $8.00 price objective on shares of Rumble in a research note on Wednesday, November 13th.

Rumble Trading Down 10.8 %

The business’s fifty day moving average price is $7.44 and its 200-day moving average price is $6.36. The company has a market capitalization of $5.29 billion, a P/E ratio of -21.56 and a beta of 0.81.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $25.06 million for the quarter, compared to the consensus estimate of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same quarter last year, the company posted ($0.14) earnings per share. As a group, equities research analysts forecast that Rumble Inc. will post -0.62 EPS for the current year.

Insider Activity

In other news, Director Robert Arsov sold 27,500 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $5.12, for a total transaction of $140,800.00. Following the completion of the sale, the director now owns 12,659,837 shares of the company’s stock, valued at $64,818,365.44. This represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 169,988 shares of company stock worth $986,517 over the last 90 days. 72.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RUM. Virtu Financial LLC purchased a new stake in shares of Rumble in the third quarter worth about $70,000. Barclays PLC raised its holdings in shares of Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after acquiring an additional 11,784 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Rumble by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after acquiring an additional 130,956 shares during the last quarter. MML Investors Services LLC bought a new position in shares of Rumble during the 3rd quarter valued at approximately $185,000. Finally, Janus Henderson Group PLC bought a new stake in Rumble in the third quarter worth $184,000. Institutional investors own 26.15% of the company’s stock.

Rumble Company Profile

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming platform where users can subscribe to channels to stay in touch with creators, and access video on-demand (VOD) and live content streamed by creators.